Tesla Motors considering Nevada for gigafactory

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Tesla Motors considering Nevada for gigafactory

Nevada is one of four states Tesla Motors is considering for the site of its future lithium ion battery factory. The company will invest between $4 and $5 billion in its gigafactory, which will employ about 6,500 people.

Nevada is a finalist, along with New Mexico, Arizona, and Texas, and the final site selection process is underway.

The company assembles its cars in Fremont, California and plans to produce a mass market electric car in the next three years. The new factory would help Tesla churn out half a million cars a year by 2020.

The factory requires a site of 500-1,000 acres and would open in 2017.